Pricey pooch: Red Tibetan mastiff puppy sells for $1.5 million

An 11-month-old puppy named Big Splash has become the most expensive dog in the world.

An 11-month-old puppy named Big Splash has become the most expensive dog in the world.

One of the world's oldest and biggest dog breeds is also the most expensive. Big Splash has sold for a record $1.5 million in China.

The buyer, reportedly a Chinese coal tycoon, purchased the 180-pound (and growing) dog from breeder Lu Liang, who called it a "perfect specimen" and told The Telegraph, "When I started in this business, 10 years ago, I never thought we would see such a price."

"We have spent a lot of money raising this dog, and we have the salaries of plenty of staff to pay," Lu told the paper.

The puppy, also called Hong Dong, was raised on a diet of chicken, beef, sea cucumber and abalone.

Tibetan mastiffs, legendarily owned by both Buddha and Genghis Khan, have become a status symbol among China's newly rich. According to CBS News, the previous record set for the purchase of a Tibetan mastiff was more than $500,000 in 2009, although another dog of the breed was valued at $1.47 million last year.